theoretical

Vocabulary Word

Definition

'Theoretical' describes something that's based on theories or concepts, rather than practical applications. It's like forming an answer to a problem by thinking about it, rather than by trying it to see what happens.

Examples in Different Contexts

In economics, 'theoretical' can refer to conceptual models explaining economic behaviors. An economist might propose, 'This theoretical model illustrates how market dynamics can impact price equilibrium.'

Practice Scenarios

Business

Scenario:

While we've made predictions about customer trends, we'll need to supplement this with actual market data to refine our marketing strategy.

Response:

Absolutely, we'll continue to use our theoretical understanding, but we'll also supplement it with real data and market research.

Academics

Scenario:

Theories and models offer a sound foundation for educational research, but practical classroom observations are where we'll see how theories apply in practice.

Response:

Of course, our research is always a mix of theoretical foundations and empirical evidence from the field.